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In this tutorial by Alex Spencer for Tuts+, viewers will learn basic formulas in the spreadsheet program Numbers for Mac OS. The tutorial emphasizes the importance of formulas in transforming raw data into accurate information, making calculations more efficient than manual methods. By the end, users will be able to use mathematical operators to create their own formulas and leverage built-in formulas. The tutorial starts with the setup of a data table for a small business, tracking revenue generated from sales on weekdays, with labels for days of the week, gross sales, expenses, and net profit. Spencer begins by inputting sales data for Monday, showing $200 in sales without any expenses.